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Facts
The Revenue (DCIT) filed an appeal against the CIT(A)'s order for Assessment Year 2012-13, arising from proceedings under Section 143(3) of the Income-tax Act, 1961. The appeal involved a tax effect of Rs. 53,94,402/-, which was below the minimum monetary limit of Rs. 60 lakhs prescribed by CBDT Circular No. 9/2024.
Held
The Tribunal noted that the tax effect was below the CBDT's prescribed monetary limit for filing appeals. The Departmental Representative fairly conceded that the CBDT circular, which mandates this limit, applies retrospectively to all pending appeals. Consequently, the Tribunal dismissed the Revenue's appeal.
Key Issues
Maintainability of the Revenue's appeal before the ITAT when the tax effect is below the monetary limit prescribed by CBDT circulars.
Sections Cited
Section 143(3) of the Income-tax Act, 1961
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Income Tax Appellate Tribunal, DELHI BENCH: ‘G’ NEW DELHI
Before: SHRI SATBEER SINGH GODARA & SHRI PRADIP KUMAR KEDIA
This Revenue’s appeal for assessment year 2012-13 is directed against the Commissioner of Income Tax (Appeals)-24 [in short, the “CIT(A)”], New Delhi’s order dated 24.11.2015 passed in case no. 228/14-15, involving proceedings under sections 143(3) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).
Heard both the parties at length. Case file perused.